FIMI Opportunity Fund Acquires 40 Percent Of Magal Security Systems Shares

July 31, 2014 | Magal Security Systems, a solutions provider for physical and cyber security, announced that FIMI Opportunity Fund, the leading private equity fund in Israel, will by 40 percent of the company’s shares from Ki Corporation. FIMI will purchase the shares from the Ki Corporation at a price of $3.50 per share, as well as paying certain additions according to conditions, making FIMI the largest shareholder of Magal. Chairman of Magal Barry Stiefel commented on the acquisition: “FIMI’s investment represents a vote of confidence in Magal by one of the leading private equity funds in the world. We welcome FIMI as Magal’s controlling shareholder and look forward to leveraging FIMI’s expertise and experience in growing the business.” FIMI is Israel’s leading private equity fund with over $2 billion in invested capital. Magal has been around for over 42 years, providing physical and cyber security solutions to companies, governments and private entities in over 80 countries.